Councils in England brought in just over £1bn in parking fees and charges for the 2023/24 financial year.
Data released in October by the Ministry of Housing, Communities and Local Government showed that parking fees and charges for 2023/24 amounted to £1.04bn; up 8% from £962.3m in 2023/23.
On-street parking for the last financial year raised £698.7m; a rise of 3.8% from £673.1m in 2022/23.
Meanwhile off-street parking generated £340.4m in 2023/24; an increase of 17.7% from £289.2m the year before.
Jack Cousens, head of roads policy, said: “Councils have broken through the £1bn income barrier, showing just how vital a revenue stream it is for them.
“With budgets stretched, local authorities will pull any lever available to bring cash into the Town Hall. The cost of parking, as well as ease of payment, has an impact on consumers and they will ‘vote with their wheels’ if they deem the price too expensive, or a hassle if they can only pay via an app or by phone.
“Now that a quarter of all retail sales are being made online, councils are seeing a drop in footfall to the high street. In their quest to fill the coffers, they may end up driving their customers away.”
